Mangalam Alloys was founded on August 1, 1988. The company specialises in the integrated production and processing of stainless steel, special steel, and higher-alloy steel, extending its offerings up to bright bar fasteners
| Bidding Dates |
|---|
| 21 Sep 2023 - 25 Sep 2023 |
| Subscription |
|---|
| 5.34x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,28,000 | 1 | 1 | 1600 | 6.9 M | ₹80 | 72.19 % | ₹549.1 M | RHP DOC |
Mangalam Alloys IPO SUBSCRIPTION STATUS
25 Sep '23Mangalam Alloys IPO overall subscription rate was 5.34 times the total available shares
Mangalam Alloys IPO retail subscription rate was 8.29 times in the retail segment
Mangalam Alloys IPO non-institutional investor subscription rate was 2.39 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
25 Sep 2023 (Day 3) | 8.29x | 2.39x | - |
22 Sep 2023 (Day 2) | 3.55x | 0.95x | - |
21 Sep 2023 (Day 1) | 1.22x | 0.53x | - |
Mangalam Alloys FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) |
| FY23 | 101.4 | 3,029.2 | 127.1 | 50.1 |
| FY22 | 50.5 | 3,093.7 | 306.6 | 178.5 |
| FY21 | -65.4 | 2,712.6 | 45.2 | 27.0 |
Mangalam Alloys IPO SUBSCRIPTION STATUS DETAILS
Mangalam Alloys had 6.9 M shares on offer
Mangalam Alloys IPO offer price was ₹80
Mangalam Alloys IPO minimum Investment was ₹128000
Mangalam Alloys IPO issue size was ₹ 549.1 M
Mangalam Alloys had a minimum lot size of 1600 Shares per application
Mangalam Alloys NUMBER OF SHARES ON OFFER
Mangalam Alloys IPO IMPORTANT DATES
| Issue Open Date | 21 Sep 2023 |
| Issue close Date | 25 Sep 2023 |
| Allotment Date | 28 Sep 2023 |
| Refund Date | 29 Sep 2023 |
| Demat Account Credit Date | 03 Oct 2023 |
| Listing Date | 04 Oct 2023 |
| Listing on Exchange(s) | NSE |
| Mangalam Alloys Allotment Status | Exchange |
Mangalam Alloys IPO subscription opened on 21 Sep 2023, and closed on 25 Sep 2023
IPO allotment for Mangalam Alloys was finalized on Thursday, 28 Sep 2023
IPO listing for Mangalam Alloys was on NSE on Wednesday, 04 Oct 2023
Mangalam Alloys IPO LISTING GAINS
| Issue Price (adjusted) | 80.0 |
| Listing Open Price | 80.0 |
| Listing Close Price | 76.0 |
| Listing Gain% | 0.0% |
| Current Gain% | -60.0% |
Mangalam Alloys Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Mangalam Alloys Ltd. | 32 | 79 | 5.4 | 0.5 | 0.2 | 9.3 | 2.7 | 441.3 | 1.8 | 14.7 | 9.9 | 5.9 | 9.9 |
| Solar Industries India Ltd. | 18820 | 170302.4 | 101.5 | 2.6 | 17.3 | 26.7 | 15.4 | 9965.7 | 30.9 | 1677.6 | 38.7 | 185.4 | 38.7 |
| PTC Industries Ltd. | 19370 | 29040.5 | 285.9 | 4.3 | 48.2 | 6.7 | 5.2 | 643.3 | 88 | 101.6 | 66.4 | 67.7 | 66.4 |
| Inox India Ltd. | 1984.1 | 18008.4 | 70.7 | 8.2 | 11.1 | 23.1 | 12.8 | 1632.3 | 21.2 | 257.9 | 14.1 | 28.1 | 8.7 |
| Precision Wires India Ltd. | 433.3 | 7921.1 | 45.4 | 0.5 | 1.3 | 20.1 | 6.9 | 5463.4 | 35.4 | 155.3 | 72.4 | 9.6 | 84 |
| Kennametal India Ltd. | 3338 | 7336.3 | 53 | 1.5 | 5.4 | 13.8 | 10.6 | 1184.7 | 6.6 | 102.9 | -6.9 | 63 | 35.9 |
Mangalam Alloys INFORMATION ON IPO ISSUE
About Mangalam Alloys
Mangalam Alloys was founded on August 1, 1988. The company specialises in the integrated production and processing of stainless steel, special steel, and higher-alloy steel, extending its offerings up to bright bar fasteners
Object of the Issue
- Working capital requirements
- Capital Expenditure for business expansion and research and development
- General corporate purposes
- To meet issue expenses
Mangalam Alloys - PROMOTERS
| Name |
|---|
| Uttamchand Chandanmal Mehta |
| Tushar Uttamchand Mehta |
Mangalam Alloys Lead Manager to the Issue
Expert Global Consultants Private Limited
ipo@expertglobal.in
Mangalam Alloys Registrar to the Issue
Skyline Financial Services Private Limited
ipo@skylinerta.com
Mangalam Alloys Strengths
Eligible for Make in India
The company qualifies for the Make in India campaign and is among a special category of businesses that are eligible for benefits under this initiative
Distribution and marketing network
The company has established a broad network across the industry and community to better identify its core customer base and create effective marketing strategies
Integrated manufacturing facility
The company continually invests in infrastructure and technological upgrades to ensure smooth manufacturing operations and adapt to changing market demands
Mangalam Alloys Risks
Volatile prices
Fluctuations in demand and pricing in the stainless steel industry are closely tied to the sectors it serves. Any drop in steel prices could negatively impact the business
Faces competition
The sectors where the company operates are competitive and fragmented. Facing other market players could impact its business performance and financial stability
Restrictive conditions
The company's lenders hold a charge over both movable and immovable assets, including the director's immovable properties, as collateral for the financing provided. The financing arrangements come with certain restrictive conditions
IPO FAQs
This IPO consists of an offer for sale of up to Rs 5.9 crore, of 737,600 shares. It also consists of a fresh issue of Rs 49.0 crore.
The promoters of the company are Uttamchand Chandanmal Mehta and Tushar Uttamchand Mehta.
The category allocation of qualified institutional buyers is 0.0%, the category allocation of non individual investors or high networth individuals is 50.0% and for retail investors it is 50.0%.
The price band of the IPO is Rs 80.0 - 80.0.
The IPO application opens on Sep 21, 2023 and closes on Sep 25, 2023.
The minimum lot size for the IPO is 1600. The maximum lot size for the IPO is 1600.
For all category investors, the minimum application amount for this IPO is Rs. 128,000.0, the maximum value for this IPO is Rs 128,000.0.
This IPO will be allotted on Sep 28, 2023.
The refund will be credited to your account on Sep 29, 2023.
The allotted shares will be credited to your demat on Oct 03, 2023.
Mangalam Alloys Ltd.’s shares listed on the stock exchanges on Oct 04, 2023.